Gold may rise strongly and reach new highsGold finally broke through the range of 2890-2930 yesterday. With the help of CPI, it bottomed out and rebounded in the evening. The highest price in the US market reached 2940, and it fell slightly in the early morning and closed above 2930. The direction of the range fluctuation is clear, and the probability of the bulls returning strongly and continuing to rise today is very high.
This wave of rise fills the last part of the V-shaped gap. The focus today is whether the previous high of 2956 can form a substantial upward break. If it breaks through strongly, the 3000 mark will not be a problem. If the high-rise fall is only pierced by the shadow line, and finally closes with a large cross or inverted hammer, we must be careful of the double top suppressing the decline, forming a top pattern, then the probability of reversal is relatively high.
For today's gold, it will continue to rise during the day. In the morning, it slightly broke the high and focused on the 2936 first-line support. When the price reaches here, it will inevitably hit the 2956 high. The watershed is at 2928. The upper pressure is near the 2956 high. It can be expected to fall back after the first touch.
In terms of trading, the accurate prediction of gold yesterday was fully realized. The long position of 2906-2910 rose as expected. As long as it is done, the profit will not be small. We firmly believe in the principle of long and not short. The intraday 2909 long stop profit at 2920, winning 11 US dollars; the evening 2907 second long stop profit at 2924, winning 17 US dollars; the two orders made a profit of 28 US dollars, and some bottom positions were left to gamble on breaking the high.
